Accredited Wealth Management LLC Takes $802,000 Position in The Coca-Cola Company (NYSE:KO)

Accredited Wealth Management LLC purchased a new position in The Coca-Cola Company (NYSE:KO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,889 shares of the company's stock, valued at approximately $802,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in shares of Coca-Cola in the 4th quarter worth $27,000. Mainstream Capital Management LLC purchased a new position in Coca-Cola during the 4th quarter worth approximately $31,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Coca-Cola in the 4th quarter valued at $38,000. Retirement Wealth Solutions LLC acquired a new position in Coca-Cola in the 4th quarter worth about $37,000. Finally, Hoey Investments Inc. raised its position in Coca-Cola by 41.9% during the fourth quarter. Hoey Investments Inc. now owns 613 shares of the company's stock worth $38,000 after acquiring an additional 181 shares during the period. Institutional investors own 70.26% of the company's stock.

Insider Activity

In other news, CEO James Quincey sold 145,435 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total value of $10,327,339.35. Following the completion of the sale, the chief executive officer now directly owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bruno Pietracci sold 19,058 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $70.56, for a total transaction of $1,344,732.48. The disclosure for this sale can be found here. Insiders have sold 313,423 shares of company stock worth $22,263,071 in the last 90 days. Company insiders own 0.97% of the company's stock.

Coca-Cola Price Performance

Shares of NYSE KO traded up $0.40 during trading on Friday, hitting $71.69. The company had a trading volume of 12,626,934 shares, compared to its average volume of 15,442,534. The business's 50-day moving average is $70.90 and its 200 day moving average is $66.54. The company has a market cap of $308.52 billion, a P/E ratio of 29.02, a PEG ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03. The Coca-Cola Company has a 52 week low of $60.62 and a 52 week high of $74.38.

Coca-Cola (NYSE:KO - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.85%. Coca-Cola's dividend payout ratio is 81.60%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KO. Royal Bank of Canada increased their target price on Coca-Cola from $73.00 to $76.00 and gave the company an "outperform" rating in a report on Wednesday. Barclays restated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. TD Cowen upgraded Coca-Cola from a "hold" rating to a "buy" rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 8th. Cfra Research upgraded shares of Coca-Cola to a "strong-buy" rating in a research note on Tuesday, April 15th. Finally, Piper Sandler increased their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $75.59.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.